(TDB) - Officers from the UK’s HM Revenue and Customs (HMRC) have arrested fourteen people on suspicion of laundering the proceeds of a multi-million pound alcohol fraud.

The arrests follow a series of dawn raids at business and residential properties up and down the country yesterday.

Those arrested are believed to have been “instrumental” in laundering up to £40 million generated from the alcohol fraud.

Cash totalling £650,000 and five lorry loads of beer and wine were seized.

HMRC suspects that the group was diverting non-duty paid alcohol and selling it on the UK market.

The fraud is estimated to be worth around £40 million in evaded duty and tax.

Alan Tully, assistant director of Criminal Investigation at HMRC, said: “This is a major investigation into what we suspect is a well organised and professional attempt to launder the proceeds from a significant alcohol fraud and steal £40 million from the UK economy.

“We are committed to stamping out alcohol fraud, which drains around £1 billion from public finances each year, affecting public services and legitimate retailers who have to compete with the illicit market.”

Those arrested include five men and one woman from London, two men from Essex, two men from Kent, one man from Cardiff, one man from Berkshire, one man from the West Midlands and one man from Lancashire, with their ages ranging from 25 to 60.